(13 Oct 2015 - Hong Kong) China Aoyuan Property Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883), a renowned property developer in China, is pleased to announce that the Company has successfully acquired by auction a plot of commercial and residential land with a total GFA of approximately 116,200 sq. m. in the heart of the Guangdong High Tech Service Zone for Financial Institutions (“the Financial Hi-Tech Zone”), Foshan, Guangzhou. The total consideration amounts to approximately RMB1.09 billion with an average land cost of RMB9,358 per sq.m.

The land parcel is well located in the Financial Hi-Tech Zone of Nanhai district, Foshan, enjoying advantages from urban integration between Guangzhou and Foshan with convenient transportation. It is in close proximity to the Financial Hi-Tech Zone station of Foshan Metro Line no. 1, which is directly connected to the Guangzhou Metro. It is only a 20-minute drive from the project to Guangzhou Railway South Station, the largest railway hub in South China, a 40-minute drive to Guangzhou Baiyun International Airport, and a 35-minute drive to central areas of Guangzhou, including Zhujiang New Town and North Tianhe. The project is close to Qiandeng Lake Park, the landmark of Nanhai District, and possesses extensive auxiliary facilities, including provincially renowned schools, AAA-rated hospitals, large scale shopping centres, and five-star hotels, etc. The average selling price of high-end residential apartments nearby the project exceeds RMB15,000 per sq.m, and that of high quality commercial properties reaches RMB50,000 per sq.m.

Positioned as an important hub linking Foshan and Guangzhou, the Financial Hi-Tech Zone is not only the financial and business district of Foshan, but also the back-office services base which provides support services and facilities for the development of financial industry in Guangdong and Pan-Pearl River Delta. Since its establishment in 2007, more than 200 domestic and international financial institutions and well-known enterprises have entered into the Financial Hi-Tech Zone, including banks, insurance companies, brokerage firms, services outsourcing enterprises, private funds, and venture capitals, etc., with a total investment in the zone exceeding RMB50 billion.

Aoyuan management commented, “Foshan is a national-level historic city as well as an advanced manufacturing base in China. The total GDP of Foshan ranks third in Guangdong, just behind Guangzhou and Shenzhen. Leveraging on the advantages of the Financial Hi-Tech Zone, Foshan has strived to build an advanced platform through which finance, technology and industry are closely integrated, with aims to become an innovation-oriented city. The acquisition creates synergy with our existing projects in Foshan, further reinforcing the Group’s brand influence in the Pearl River Delta. Aoyuan will continue to uphold its prudent land acquisition strategy, while maintaining sound financial position and facilitating sustainable development, as well as delivering satisfactory returns to our shareholders.”

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